Insights : Innecto Reward Consulting

Category: Pay benchmarking

The future of Pay benchmarking – is real-time data worth using?

Paying workers at a level that is seen to be fair and competitive is vital for any company or organisation wanting to succeed. It is a key cornerstone to attracting and retaining strong talent.

Posted by Mark Macoun on
08 November 2024

Pay Benchmarking: Best Practices and Strategies

Pay benchmarking | Pay

In the modern business world organisations are striving to attract and retain top talent with competitive, fair and transparent compensation practices. One crucial building block in this is Pay Benchmarking, which provides insights and comparisons into industry standards and norms, and helps organisations make informed decisions.

Posted by Amin Uddin on
01 November 2024

Choose the right data for pay benchmarking

Pay benchmarking | Pay Data

Selecting the right pay data to benchmark jobs in your organisation can be challenging at the best of times, not helped by the variety of options available out there, which many are being positioned as ‘real-time’ data.

Posted by Sarah Lardner on
25 August 2023

Are you getting pay 'right’?

Pay benchmarking

This might be a question that keeps you up at night and with the thought of the pay review process looming, you may be tempted to put off answering this question. By putting a plan in place before the start of September and getting ahead of the game, you’ll be in the best position to create a pay strategy and policy that ensures fairness and competitiveness. Not sure where to start? Your first step should be starting a pay benchmarking project.

Posted by Mark Macoun on
04 August 2023

Three essential areas to address around pay gaps and equality

Instances of unequal pay can manifest all too easily, but they can also be guarded against by putting checks and balances in place and maintaining those with regular auditing. My three main areas to focus on when considering pay gaps and inequality are pay structures, annual pay review and pay policy.

Posted by Emer Bucukoglu on
02 September 2022

Pay Data: The right version of the truth?

Salary survey | Pay benchmarking | Pay Data

As we move cautiously out of the pandemic, ‘getting pay data right’ has never been more important. But how can you make sure you are selecting the right pay data, and how do you interpret what the data is telling you? Lisa Trewhitt offers her four main recommendations.

Posted by Lisa Trewhitt on
24 November 2021

What Does Good Pay Benchmarking Look Like?

Pay benchmarking

Most organisations conduct benchmarking to attract and retain employees, which is done by understanding the market rate of roles within the organisation. But how can you ensure your next Pay Benchmarking project is a success? Mark Macoun offers some key best practice considerations.

Posted by Mark Macoun on
26 May 2021

Planning for the Other Side

Senior Reward Consultant Emer Bucukoglu explains why now is the time to take a considered approach to reward, review your current reward strategy and policies and explore smarter, more agile reward solutions.

Posted by Emer Bucukoglu on
09 April 2020

Join the club: why you should join a specialist pay survey

Good pay data is key to informing decisions around pay management. But what happens when the traditional pay surveys don't fit the bill for specialist roles? Club surveys could be the answer. Sarah Nash reveals what organisations can gain from joining a specialist pay survey...

Posted by Sarah Nash on
03 March 2020

Now that’s what I call blogs! 2019’s greatest hits

A blog roundup today - our most popular blogs from 2019. Well worth a re-read of your favourites, or a chance to catch up on any you've missed.

Posted by Ella Rees on
17 December 2019

Making a merit-based pay model work for your business

With newly qualified lawyers preparing to join their new employers shortly, many law firms are in the process of reviewing their pay bands and pay structures. Once again, the discussion surrounding the benefits and drawbacks of the traditional PQE-based pay model have begun, and the merits of alternative pay models, have been reopened.

Posted by James Bigus on
10 June 2019

6 steps to maximise value of pay benchmarking

Getting the facts around your market pay stance is essential, but of course there are costs involved. Innecto's Emer Bucukoglu guides you through 6 steps to make sure you get the best return from your pay benchmarking project.

Posted by Emer Bucukoglu on
12 February 2019

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